Sigma Planning Corp Reduces Stake in Cencora, Inc. (NYSE:COR)

Sigma Planning Corp cut its stake in shares of Cencora, Inc. (NYSE:COR) by 2.7% during the third quarter, HoldingsChannel reports. The firm owned 1,921 shares of the company’s stock after selling 54 shares during the quarter. Sigma Planning Corp’s holdings in Cencora were worth $432,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Lake Street Advisors Group LLC raised its holdings in Cencora by 1.3% during the 3rd quarter. Lake Street Advisors Group LLC now owns 3,415 shares of the company’s stock valued at $769,000 after buying an additional 43 shares during the period. Financial Advocates Investment Management raised its stake in shares of Cencora by 4.7% in the second quarter. Financial Advocates Investment Management now owns 978 shares of the company’s stock valued at $220,000 after acquiring an additional 44 shares during the period. Checchi Capital Advisers LLC lifted its holdings in shares of Cencora by 2.2% in the 2nd quarter. Checchi Capital Advisers LLC now owns 2,217 shares of the company’s stock worth $499,000 after acquiring an additional 48 shares during the last quarter. J.W. Cole Advisors Inc. boosted its stake in shares of Cencora by 1.3% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 3,669 shares of the company’s stock worth $826,000 after purchasing an additional 48 shares during the period. Finally, Valeo Financial Advisors LLC grew its holdings in Cencora by 3.4% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,566 shares of the company’s stock valued at $353,000 after purchasing an additional 51 shares during the last quarter. 97.52% of the stock is owned by institutional investors.

Cencora Stock Down 1.1 %

Shares of Cencora stock opened at $240.24 on Friday. The company has a debt-to-equity ratio of 4.84, a current ratio of 0.88 and a quick ratio of 0.53. The stock has a market cap of $47.34 billion, a price-to-earnings ratio of 31.99, a PEG ratio of 1.66 and a beta of 0.44. The firm’s 50-day moving average is $232.62 and its two-hundred day moving average is $231.08. Cencora, Inc. has a 1 year low of $194.23 and a 1 year high of $251.56.

Cencora Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.92%. This is a positive change from Cencora’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Friday, November 15th. Cencora’s dividend payout ratio (DPR) is presently 29.29%.

Analyst Ratings Changes

Several brokerages have issued reports on COR. UBS Group boosted their target price on Cencora from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Barclays boosted their price objective on Cencora from $263.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. StockNews.com downgraded Cencora from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 20th. Bank of America reiterated a “neutral” rating and set a $245.00 target price (down from $275.00) on shares of Cencora in a research report on Wednesday, September 18th. Finally, Wells Fargo & Company upped their price target on shares of Cencora from $236.00 to $249.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $271.20.

Insider Buying and Selling

In other Cencora news, Chairman Steven H. Collis sold 21,509 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $235.80, for a total transaction of $5,071,822.20. Following the completion of the sale, the chairman now directly owns 285,088 shares of the company’s stock, valued at approximately $67,223,750.40. This represents a 7.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 15.80% of the stock is currently owned by insiders.

About Cencora

Cencora, Inc sources and distributes pharmaceutical products. The company's U.S. Healthcare Solutions segment distributes pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and alternate site pharmacies, and other customers; provides pharmacy management, staffing, and other consulting services; supply management software to retail and institutional healthcare providers; packaging solutions to various institutional and retail healthcare providers; clinical trial support, product post-approval, and commercialization support services; data analytics, outcomes research, and additional services for biotechnology and pharmaceutical manufacturers; pharmaceuticals, vaccines, parasiticides, diagnostics, micro feed ingredients, and other products to the companion animal and production animal markets; and sales force services to manufacturers.